China – Muhasebe News https://www.muhasebenews.com Muhasebe News Thu, 12 Oct 2023 10:39:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.3 China’s September Car Sales Surge Over 2 Million, Energy Vehicle Sales Up 22.1%, Prompting EU Investigation into Chinese EV Industry https://www.muhasebenews.com/en/chinas-september-car-sales-surge-over-2-million-energy-vehicle-sales-up-22-1-prompting-eu-investigation-into-chinese-ev-industry/ https://www.muhasebenews.com/en/chinas-september-car-sales-surge-over-2-million-energy-vehicle-sales-up-22-1-prompting-eu-investigation-into-chinese-ev-industry/#respond Thu, 12 Oct 2023 10:39:17 +0000 https://www.muhasebenews.com/?p=147057 Prior to the holidays, China’s car sales climbed in September and reached over 2 million, according to figures made public by the China Passenger Car Association.

From a year ago, auto sales increased by about 5.0 percent in September. At the same time, sales of energy vehicles increased by 22.1% over the previous year to 746,000 units.

The association reported that in the first nine months of the year, energy passenger car sales experienced a significant yearly growth of 33.8 percent.

The CPCA saw that customers chose to purchase new automobiles rather than make house investments during the slump in the real estate industry.

According to figures, passenger automobile exports increased 50% year over year in September.

Data were released after Brussels formally opened an inquiry into the Chinese electric vehicle industry. The EU expressed concern that Chinese electric vehicle producers’ subsidies endanger the already precarious position of EU automakers.

China referred to the investigation as a protectionism move and warned that it would slow down the supply chain.

Source: RTT NEWS
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/chinas-september-car-sales-surge-over-2-million-energy-vehicle-sales-up-22-1-prompting-eu-investigation-into-chinese-ev-industry/feed/ 0 China’s PMI manufacturing industry was 51.9% in March; decrease 0.7 percentage points from the previous month https://www.muhasebenews.com/en/chinas-pmi-manufacturing-industry-was-51-9-in-march-decrease-0-7-percentage-points-from-the-previous-month/ https://www.muhasebenews.com/en/chinas-pmi-manufacturing-industry-was-51-9-in-march-decrease-0-7-percentage-points-from-the-previous-month/#respond Mon, 10 Apr 2023 06:05:10 +0000 https://www.muhasebenews.com/?p=141385 Manufacturing Purchasing Managers Index in China

In March, the Purchasing Manager Index (PMI) of China’s manufacturing industry was 51.9 percent, decrease 0.7 percentage points from the previous month, higher than the threshold, and the manufacturing industry keep it trend of expansion.

In terms of enterprise size, the PMI of large, medium-sized and small enterprises was 53.6, 50.3 and 50.4 percent respectively, decrease 0.1, 1.7 and 0.8 percentage points from the previous month, all higher than the threshold;

From the sub-indexes, among the five sub-indexes that constitute the manufacturing PMI, the production index, new order index and supplier delivery time index were all higher than the threshold, and the raw material inventory index and employee index were lower than the threshold.

The production index was 54.6 percent, decrease 2.1 percentage points from the previous month, and still higher than the threshold, indicating that manufacturing production activities continued to expand.

The new order index was 53.6 percent, decrease 0.5 percentage points from the previous month, and still higher than the threshold, indicating a continuous increase in manufacturing market demand.

The raw material inventory index was 48.3 percent, decrease 1.5 percentage point from the previous month, indicating that the inventory of major raw materials in the manufacturing industry was in expanded decline.

The employment index was 49.7 percent, decrease 0.5 percentage point from the previous month, indicating a decline in the prosperity level of employment of manufacturing enterprises.

The supplier delivery time index was 50.8 percent, decrease 1.2 percentage points from the previous month, and still higher than the threshold, indicating that the delivery time of raw material suppliers in the manufacturing industry continues to decrease.

]]> https://www.muhasebenews.com/en/chinas-pmi-manufacturing-industry-was-51-9-in-march-decrease-0-7-percentage-points-from-the-previous-month/feed/ 0 Chinese industrial profits drop significantly https://www.muhasebenews.com/en/chinese-industrial-profits-drop-significantly/ https://www.muhasebenews.com/en/chinese-industrial-profits-drop-significantly/#respond Mon, 27 Mar 2023 07:41:15 +0000 https://www.muhasebenews.com/?p=140715 On account of decreased demand and declining prices, China’s industrial earnings shrank even more in the first two months of 2023, according to official figures.

The National Bureau of Statistics stated that in the months of January and February, industrial profits fell 22.9 percent annually. The decline came after a contraction of 4.0 percent for the entire year of 2022.

Despite the restrictions being removed at the end of 2022, data revealed that factories have not yet recovered from the pandemic-driven slowdown.

After falling by 0.8 percent in January, factory gate prices fell by 1.4 percent annually in February. Factory revenues and profits are still being negatively impacted by declining producer prices.

Source: RTT NEWS
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]]> https://www.muhasebenews.com/en/chinese-industrial-profits-drop-significantly/feed/ 0 China’s Exports Keep Declining Due to Weak Global Demand https://www.muhasebenews.com/en/chinas-exports-keep-declining-due-to-weak-global-demand/ https://www.muhasebenews.com/en/chinas-exports-keep-declining-due-to-weak-global-demand/#respond Tue, 07 Mar 2023 08:09:49 +0000 https://www.muhasebenews.com/?p=139699 At the beginning of the year, China’s exports remained in decline, a reflection of the difficulties the world economy presented Beijing in setting ambitious development targets.

The General Administration of Customs announced that exports decreased 6.8 percent between January and February of last year.

The annual decline was lower than the 9.9 percent drop reported in December and better than the 9.4 percent fall predicted by analysts.

Despite the economy being back open, imports experienced a double-digit decline from January to February of 10.2 percent, which was worse than the 7.5 percent drop from December and the anticipated 5.5 percent fall.

As a result, the trade balance was in surplus, coming in at about $117 billion, far exceeding the estimate of $81.8 billion.

For the purpose of avoiding distortions brought on by the Lunar New Year holiday, the customs office typically combines statistics for January and February.

Source: RTT News
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/chinas-exports-keep-declining-due-to-weak-global-demand/feed/ 0 China’s GDP estimate is increased by Moody’s from 4 to 5% https://www.muhasebenews.com/en/chinas-gdp-estimate-is-increased-by-moodys-from-4-to-5/ https://www.muhasebenews.com/en/chinas-gdp-estimate-is-increased-by-moodys-from-4-to-5/#respond Thu, 02 Mar 2023 08:54:07 +0000 https://www.muhasebenews.com/?p=139458 In order to account for a post-reopening rebound in domestic demand, particularly for services, Moody’s Investors Service recently raised its estimate for China’s real GDP growth from 4 percent to 5 percent for both 2023 and 2024.

According to the most recent revision of Moody’s global macro outlook 2023–24, the Chinese government’s move to loosen COVID-19 restrictions will inevitably result in an increase in the nation’s economic activity of 3 percent in 2022. The credit rating agency anticipates that a resurgence in spending will begin this spring, supported by pent-up demand for non-traded services.

The nation’s central bank, the People’s Bank of China, is supplying liquidity assistance to the economy as it restarts and to control the real estate market. According to Moody’s, the extent and longevity of the recovery will determine how much more monetary policy relaxation is necessary.

Source: China Daily
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]]> https://www.muhasebenews.com/en/chinas-gdp-estimate-is-increased-by-moodys-from-4-to-5/feed/ 0 Chinese imports to Canada surpassed $100 billion in 2022, establishing a new trade record https://www.muhasebenews.com/en/chinese-imports-to-canada-surpassed-100-billion-in-2022-establishing-a-new-trade-record/ https://www.muhasebenews.com/en/chinese-imports-to-canada-surpassed-100-billion-in-2022-establishing-a-new-trade-record/#respond Wed, 01 Mar 2023 06:00:58 +0000 https://www.muhasebenews.com/?p=139349 According to statistics from Statistics Canada, trade between China and Canada reached record highs in 2022, with imports breaking the $100 billion barrier for the first time.

According to economists and other experts, as demand rises and well-established supply networks reassert themselves in a post-pandemic world, businesses are looking past political tensions between the two nations.

James Brander, an economics professor at the Sauder School of Business at the University of British Columbia, asserted that businesses would not put politics above profits in the absence of laws or regulations mandating it, such as the ones presently prohibiting trade with Russia.

Yes, there are conflicts, of course. However, unless there is a clear strategy, political tensions don’t have a significant impact on economic or trade flows, or economic activity in general, according to Brander.

According to Statistics Canada, Canada imported goods from China worth a high $100,027,968,000 last year, up 16% from $86 billion in 2021.

Consumer goods accounted for $31 billion of all imports in 2022, followed by electronic and electrical apparatus ($28 billion).

According to the data, Canadian exports to China hit a record high of $27.9 billion, recovering from a slump caused by the arrest of Chinese Huawei executive Meng Wanzhou in 2018 and China’s detention of Canadians Michael Spavor and Michael Kovrig.
Last year, China lifted a three-year ban on Canadian canola that had been applied following Meng’s arrest. Meng has since returned to China.

However, tensions between Ottawa and Beijing remain high amid accusations of Chinese meddling in Canadian elections and government confirmation of Chinese surveillance operations.

Source: Global News
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/chinese-imports-to-canada-surpassed-100-billion-in-2022-establishing-a-new-trade-record/feed/ 0 First Export Freight Train to China Sets Off from Turkey https://www.muhasebenews.com/en/first-export-freight-train-to-china-sets-off-from-turkey/ https://www.muhasebenews.com/en/first-export-freight-train-to-china-sets-off-from-turkey/#respond Thu, 10 Dec 2020 12:59:03 +0000 https://www.muhasebenews.com/?p=98388 ​​​On December 4, Turkey sent its first cargo-laden freight train on its maiden journey to China from the Kazlıçeşme Station in Istanbul.

 The General Directorate of Turkish State Railways (TCDD) stated that the first freight train from Turkey to China was transporting refrigerators in 42 containers aboard. On its way to China, the train was sent off by the Minister of Infrastructure and Transportation Adil Karaismailoğlu from Kazlıçeşme Station of Marmaray. It is due to cross Georgia and then enter the Caspian Sea transit.

Turkey’s outbound rail freight shipment is due to arrive in China in 12 days.​​

Source: Republic of Turkey Investment Office
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/first-export-freight-train-to-china-sets-off-from-turkey/feed/ 0 Coronavirus pushes global textile brands toward Turkey, fueling orders https://www.muhasebenews.com/en/coronavirus-pushes-global-textile-brands-toward-turkey-fueling-orders/ https://www.muhasebenews.com/en/coronavirus-pushes-global-textile-brands-toward-turkey-fueling-orders/#respond Fri, 28 Feb 2020 08:40:17 +0000 https://www.muhasebenews.com/?p=78626 Coronavirus pushes global textile brands toward Turkey, fueling orders

According to the news of Daily Sabah, global textile giants turned toward Turkish ready-to-wear and textile manufacturers, fueling orders ahead of the upcoming summer season, due to the new coronavirus outbreak in China. The deadly virus has already caused various large brands to withdraw from the Chinese market and halted local production in the East Asian country.

Several brands including large-scale global brands such as Superdry, Inditex, H&M, Hermes-Otto, Debenhams and Ralph Lauren have already diverted their orders to Turkey. The country will have to increase production by doubling the shifts, especially for summer collections.

Istanbul Ready-Made Clothes and Textile Exporters Union Chairman Mustafa Gültepe said the sector is currently working at a capacity of 85%. Brands like H&M, Superdry and Inditex Group, which embodies Zara, Massimo Dutti and Bershka, all of which have a high capacity in terms of importing from Turkey, fueled the orders. With the additional orders, the sector is expected to work at full capacity, he added.

“If the orders continue in this way, we will increase the sector’s capacity,” he noted.

Also speaking on the issue, Hadi Karasu, head of the Turkish Clothing Manufacturers’ Association (TGSD), stressed that many design and retail firms cannot enter the Chinese market due to the epidemic, and many others have halted production. As a result, many renowned brands initiated talks with Turkish manufacturers for the upcoming season, Karasu said.

The new virus outbreak, which is believed to have emerged in the Chinese city of Wuhan in Hubei province in late 2019, has become a pandemic. Outlining the alarming development during a briefing in Geneva, World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus said on Tuesday that there were 2,790 cases and 44 deaths in 37 countries outside of China. The virus has so far killed more than 2,600 people and infected over 77,000 others in mainland China.

The Industry and Technology Minister Mustafa Varank said on Wednesday that the outbreak of the new coronavirus (COVID-19) created uncertainty about the global economic developments given the fact that China is an important global economic player and has a strategic position in supply chains.

“Any financial bottleneck that may occur in supply chains has the power of strongly shaking the global balances. It is also likely that the intermediate goods that are imported from China may be exported from Turkey as well which will be reflected in several sectors such as textiles,” he said.

Cleaning products along with medical masks are also products that are needed by Chinese customers. Demands for those types of products from Turkey have increased up to 40%. China’s furniture importers are another sector where orders have been diverted to Turkey especially after the cancellation of two furniture fairs that were due to be held in China. The sector, which previously announced its export value as $4.5 billion for 2020, updated it to $5 billion due to additional orders coming from Europe.

Source: Daily Sabah / link: https://www.dailysabah.com/business/economy/coronavirus-pushes-global-textile-brands-toward-turkey-fueling-orders
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/coronavirus-pushes-global-textile-brands-toward-turkey-fueling-orders/feed/ 0 China bans Bing.com https://www.muhasebenews.com/en/china-bans-bing-com/ https://www.muhasebenews.com/en/china-bans-bing-com/#respond Thu, 24 Jan 2019 10:15:10 +0000 https://www.muhasebenews.com/?p=44890 China bans Bing.comThere hasn’t been any announcements about the ban.

U.S based tech companies face bans in China frequently.

Popular platforms such as Facebook, Twitter and Youtube have been blocked for years through the Great Firewall, the censorship regime of the Chinese Government.

Microsoft is a member of the Internet Society of China, a government-related body whose members aim at sites that threaten the peace and security of the society and contain illegal content.

Microsoft has previously faced bans from China.

The government put a ban on Skype, a video and phone call platform, in November 2017.

 

 

 

 


Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

]]> https://www.muhasebenews.com/en/china-bans-bing-com/feed/ 0 China to cut investments to the U.S https://www.muhasebenews.com/en/china-to-stop-investments-in-the-u-s/ https://www.muhasebenews.com/en/china-to-stop-investments-in-the-u-s/#respond Tue, 15 Jan 2019 13:18:20 +0000 https://www.muhasebenews.com/?p=44212 Foreign direct investment from China into the US have decreased by 83% in 2018, according to a report published by law firm Baker McKenzie on Monday.

On the other hand, Chinese companies entered on a significant amount of sales in real-estate, hospitality and entertainment industries.

Baker McKenzie reported that net foreign direct investment from China into North America turned negative in 2018 with around $5.5 billion.

It is also added that Chinese assests worth $12 billion worldwide are expected to be sold within this year.

This results from Beijing’s decision to restrict investments outside the country.

 

 

 

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

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